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What shall you spend it on?

(17 Posts)
spectacularvelvet Sat 23-Sep-17 15:31:41

Just found out I’ve got £15k coming to me and n next few weeks... there’s a bit of separate money for kids so don’t need to factor in uni or car funds. Should I spend it on house - could do with some decorating, or could add to it and do an extension.
Or a holiday? Or a few holidays?
How is it so hard to work out what to do?

MyBrilliantDisguise Sat 23-Sep-17 15:33:05

How much do you have left on the mortgage?

MyBrilliantDisguise Sat 23-Sep-17 15:33:50

Personally I'd spend it on something that will last eg an extension or paying off the mortgage, rather than a holiday.

Needalifeoverhaul Sat 23-Sep-17 15:46:31

Id do the opposite and spend it on a once in a lifetime holiday! You only live once and all that grin Congratulations btw!

spectacularvelvet Sat 23-Sep-17 15:47:33

Sorry to drip feed but it’s money that came to me after my dad passed - I think I should spend it on making memories for my kids?

Needalifeoverhaul Sat 23-Sep-17 15:48:59

Have just realised how insensitive my post and congratulations could be if was money left to you in a will. Apologies if that is the case OP.

Bobbiepin Sat 23-Sep-17 15:49:11

A bit on the house in a way that will increase value, a bit towards a holiday (not paying for the whole thing) and a bit in a savings account that could bail you our of a nightmare at some point in the future ( or be put towards a retirement villa in Spain, whatever happens!)

spectacularvelvet Sat 23-Sep-17 15:50:09

Actually needalife that made me laugh - it wasn’t a will - but it is a form of compensation... and my dad would absolutely say holiday of a lifetime!

spectacularvelvet Sat 23-Sep-17 15:51:18

It feels like SUCH a lot of money, and yet so little at the same time!

Needalifeoverhaul Sat 23-Sep-17 15:51:29

Sorry OP..cross post. Again, I send my apologies and should engage my brain first. I'm sorry for your loss and feel awful now for saying what I did.flowers

AJPTaylor Sat 23-Sep-17 15:54:27

With ourinheritance from inlaws we have put half into long term really hard to get into and spend account. A quarter went on a family holiday and a quarter on replacement cars.

spectacularvelvet Sat 23-Sep-17 15:54:52

The reality though is that life is short and my instinct is to spend it on experience because let’s face it - you can’t take stuff with you can you!

Needalifeoverhaul Sat 23-Sep-17 16:35:50

That's very true indeed...do you have a particular destination in mind? Or a particular 'thing' you'd like to do?

2gorgeousboys Sat 23-Sep-17 16:41:59

We used a bequest from DH's Dad to take the family on a once in a lifetime trip to Florida. DFiL loved travelling and holidays and also said he regretted not taking DH and his DSis to Disney when they were little.

Yes we could have used the money for decorating or new car or other such things that we need /want but we wanted an experience as a family and it seemed fitting.

SongforSal Sat 23-Sep-17 16:43:12

Holidays. You could get several from that. If you have depts tho, clear them first and enjoy what's left. Money goes down quickly though, so if it were me I'd write a spreadsheet, and stick to budgets.

C0untDucku1a Sat 23-Sep-17 16:45:07

I would go on a family holiday to australia.
Id probably also buy a piece of jewellery i love as a permanent reminder.

pestov Sat 23-Sep-17 20:09:28

With an unexpected windfall you should spend a third on the past... settle debts including mortgage and car loans.
A third for the present - holiday, strippers, whatever floats your boat!
And a third for the future - major home improvements come in this category as do investments and rainy day funds.

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